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Bill Gross rips US economy

April 07, 2006 at 04:04 AM | categories: Investing, Politics | View Comments

Bill Gross is the legendary bond analyst/trader at PIMCO. He has strong words about the Economic Report of the President and the state of the US economy.

Unfortunately, there doesn’t seem to be anyone out there who’s much interested in trying to solve the problem. We can’t keep spending the way that we have. All the big screen TVs and clothing that we’re buying from overseas is growing their economies as fast as it depletes our resources. It’d be different if we were graduating more scientists and engineers … if we were graduating more people period.

His article is a fine read on a day when the market dropped better than 1% across all indices. Highly recommended.